The Financial Monitoring Agency of the Republic of Kazakhstan reported earlier on Tuesday that 55 illegal mining farms “voluntarily stopped their operation” due to an enforcement campaign by the regulator, and another 51 entities’ operations “were terminated.” The enforcement operation targeted illegal mining operations that compromised the nation’s energy network. The agency called for developing a clear regulatory approach to crypto mining in its release.
The release mentioned a number of high-profile business figures who were allegedly tied to the illegal activity. Those included an ex-chairman of the state-owned Qazaqgaz gas company, a former head of the drug crime department of the national police, and the 17th richest person in the country.
The agency seized more than 67,000 pieces of equipment worth some $190 million and opened 25 criminal cases. The daily energy consumption in the country reportedly went down by 600 MWh following the enforcement raid.
